We provide evidence on the effects of the 2009 crisis on Turkish manufacturing. The exploration of firm and firm-product extensive and intensive margins confirms the prevalence of the latter in the fall of export sales and discloses the former's relevance in the dramatic import contraction. The...

This paper analyzes financial contagion in a banking system where banks are linked by interbank claims and common assets. We find that asset commonality makes banking systems more vulnerable to idiosyncratic shocks and helps to determine which interbank network structures are resistant to...